Karnataka PUC 2nd Puc Commerce Accountancy — Real Previous-Year Papers

Old Ratio – New Ratio = _____ Ratio.

On dissolution of a firm, Partner's Loan Account is transferred to _____ Account.

Loans which are repayable within _____ months, are called as short-term borrowings.

Common Size Statement is also known as _____ analysis.

Match the following : | A | B | | --- | --- | | a) Valuation of goodwill | i) Acknowledgement of debt | | b) Debentures | ii) Earnings per share | | c) Revenue from operations | iii) Inflows and Outflows of cash | | d) Profitability Ratio | iv) Average profit method | | e) Cash flow statement | v) Sales | | | vi) Financial position |

Profit or loss on revaluation is transferred to all partners' capital accounts in case of retirement of a partner. [State True/False]

State any one type of shares.

What do you mean by Redemption of debentures?

State any one user of Financial Statement Analysis.

Expand R.O.I.

State any two differences between fixed capital method and fluctuating capital method.

Mention any two modes of disposal of amount due to retiring partner.

Give the meaning of over subscription.

Name the two types of financial statements.

Write any two examples for financing activities.

Ravi and Kiran commenced partnership business on 01.04.2024 with capitals of ₹ 1,50,000 and ₹ 1,00,000 respectively. Their profit sharing ratio is 3 : 2 respectively. They earned a profit of ₹ 50,000 for the year, before allowing : a) Interest on capital at 10% per annum. b) Interest on drawings : Ravi ₹ 4,000 and Kiran ₹ 2,000. c) Commission payable to Ravi ₹ 3,000 per annum. d) Salary payable to Kiran ₹ 8,000 per annum. Prepare Profit and Loss Appropriation Account for the year ended 31.03.2025.

Geetha, Latha and Sangeetha are partners sharing profits and losses in the ratio of 5 : 3 : 2 respectively. Latha retires from the firm. Geetha and Sangeetha decided to share future profits in the ratio of 3 : 2. Calculate Gaining Ratio of Geetha and Sangeetha.

Anil, Vishal and Sunil are partners sharing profits and losses in the ratio of 4 : 3 : 3. Their capitals on 01.04.2025 are ₹ 1,00,000, ₹ 80,000 and ₹ 50,000 respectively. Vishal died on 31.12.2025. The partnership deed provides the following : a) Interest on capital at 12% per annum. b) Salary to Vishal ₹ 2,000 per month. c) Vishal's share of goodwill ₹ 14,000 [as per A.S. – 26]. d) Vishal's share of accrued profit upto the date of death, based on previous year profit. Firm's previous year profit was ₹ 36,000. Prepare Vishal's Executors Account.

From the following particulars, prepare statement of profit and loss for the year ended 31.03.2025 as per Schedule III of Companies Act, 2013 : | Particulars | ₹ | | --- | --- | | Revenue from operations | 8,00,000 | | Purchases | 4,00,000 | | Salaries | 1,00,000 | | Finance costs | 30,000 | | Depreciation | 20,000 | | Rent | 15,000 | | Administrative expenses | 35,000 | | Income Tax | 60,000 |

LG Company Limited earned a net profit of ₹ 7,00,000 for the year ended 31.03.2025. Depreciation for the year is ₹ 1,50,000. There was a profit of ₹ 60,000 on assets sold which was transferred to statement of profit and loss. Trade receivables decreased during the year by ₹ 55,000 and trade payables also decreased by ₹ 45,000. Compute cash flow from operating activities by indirect method.

Govind and Sudeep are partners sharing profits and losses in the ratio of 3 : 1 respectively. Their Balance sheet as on 31.03.2025 is as follows : Balance Sheet as on 31.03.2025 | Liabilities | ₹ | Assets | ₹ | | --- | --- | --- | --- | | Creditors | 45,000 | Cash | 16,000 | | Bills payable | 25,000 | Debtors | 40,000 | | General Reserve | 20,000 | Stock | 34,000 | | Capitals : | | Furniture | 20,000 | | Govind | 90,000 | Machinery | 30,000 | | Sudeep | 40,000 | Building | 80,000 | | | 2,20,000 | | 2,20,000 | On 01.04.2025, they admitted Tarun into partnership on following terms : a) Tarun should bring in ₹ 30,000 as capital for 1/5th share and ₹ 10,000 towards goodwill [As per A.S. – 26]. b) Goodwill amount is withdrawn by old partners. c) Depreciate furniture at 5%. d) Appreciate building value by 10%. e) Machinery revalued at ₹ 27,000. Prepare : i) Revaluation Account, ii) Partners' Capital Accounts and iii) New Balance Sheet of firm on 01.04.2025.

Anitha and Sunitha are equal partners. Their Balance Sheet on 31.03.2025 is as under : Balance Sheet as on 31.03.2025 | Liabilities | ₹ | Assets | ₹ | | --- | --- | --- | --- | | Creditors | 40,000 | Cash at Bank | 45,000 | | Bills Payable | 20,000 | Debtors | 35,000 | | Vanitha's Loan | 25,000 | Bills Receivable | 15,000 | | Profit and Loss A/c | 30,000 | Computers | 30,000 | | Capitals : | | Machinery | 50,000 | | Anitha | 60,000 | Land | 70,000 | | Sunitha | 70,000 | | | | | 2,45,000 | | 2,45,000 | On the above date, the firm is dissolved and following information is available : a) Assets realised as follows : Debtors ₹ 30,000 ; Bills Receivable ₹ 12,000 ; Computers ₹ 25,000 ; Machinery ₹ 45,000 ; Land ₹ 85,000 ; and Unrecorded investment ₹ 3,000 b) Liabilities are paid in full. c) Cost of dissolution amounted to ₹ 6,000. Prepare : i) Realisation Account, ii) Partners' Capital Accounts and iii) Bank Account.

Supreme Company Limited issued 10,000 equity shares of ₹ 100 each at a premium of ₹ 10 per share. The amount payable is as follows : On application ₹ 20 On allotment ₹ 50 (including premium) On first and final call ₹ 40. All the shares were subscribed and money duly received except the first and final call on 500 shares. The directors forfeited these shares and re-issued them as fully paid-up at ₹ 80 per share. Pass the necessary journal entries regarding issue, forfeiture and re-issue of shares.

Atridatta Company Limited issued 10,000, 10% debentures of ₹ 100 each on 01.04.2024 at a discount of 10% and redeemable at a premium of 10%. Pass journal entries relating to the issue of debentures and debenture interest for the period ending 31.03.2025 assuming that interest is paid half yearly on 30th September and 31st March, tax deducted at source is 10%.

From the following Balance sheets of Sunstar Company Limited on 31.03.2024 and 31.03.2025, prepare Comparative Balance sheet : Balance sheets as on 31.03.2024 and 31.03.2025 | Particulars | 31.03.2024 ₹ | 31.03.2025 ₹ | | --- | --- | --- | | I. Equity and Liabilities : | | | | 1. Shareholders Funds : | | | | a) Share capital | 5,00,000 | 7,50,000 | | b) Reserves and Surplus | 1,00,000 | 1,20,000 | | 2. Non-Current Liabilities : | | | | Long-term Borrowings | 3,00,000 | 4,00,000 | | 3. Current Liabilities : | | | | Trade payables | 1,50,000 | 1,80,000 | | Total | 10,50,000 | 14,50,000 | | II. Assets : | | | | 1. Non-current Assets : | | | | a) Fixed Assets : | | | | i) Tangible Assets | 4,00,000 | 7,00,000 | | ii) Intangible Assets | 2,00,000 | 2,50,000 | | b) Long-term Investments | 1,50,000 | 1,20,000 | | 2. Current Assets : | | | | a) Inventories | 80,000 | 1,00,000 | | b) Trade Receivables | 1,20,000 | 2,00,000 | | c) Cash and Cash equivalents | 1,00,000 | 80,000 | | Total | 10,50,000 | 14,50,000 |

From the following particulars, calculate : a) Current Ratio, b) Debt to Capital Employed Ratio, c) Trade Receivables Turnover Ratio, d) Trade Payables Turnover Ratio, e) Operating Ratio and f) Net Profit Ratio. | Particulars | ₹ | | --- | --- | | Revenue from operations | 5,00,000 | | Gross Profit | 1,00,000 | | Inventory | 75,000 | | Net credit revenue from operations | 3,00,000 | | Trade receivables | 75,000 | | Net credit purchases | 2,50,000 | | Trade payables | 1,25,000 | | Operating expenses | 50,000 | | Net profit | 50,000 | | Debentures | 1,00,000 | | Share capital | 2,00,000 |